Regulatory Alerts2022-04-01
Added · Updated
Use of Premium Financing to Take Out Long Term Insurance Policies
The Securities and Futures Commission issued this circular to regulate the use of premium financing for long-term insurance policies by authorized institutions. It mandates that institutions implement robust risk management practices and ensure adequate disclosure to clients regarding the risks and costs associated with such financing arrangements. The document aims to safeguard consumer interests and maintain market integrity by addressing potential conflicts of interest and financial risks inherent in premium financing structures.
CIR
Current
Issue Date:
01 Apr 2022
20220401-7-EN.pdf (315.5 KB)
Topic:
Miscellaneous - SFC/IA/MPFA
Wealth Management & MPF - Insurance products
Group:
All Authorized Institutions
Directly related Document
Cross referenced Document
Version History
Superseded Document
Directly related Document
CIR
Current
01 Apr 2022
Use of Premium Financing to take out Long Term Insurance Policies
Annex
Current
01 Apr 2022
Enclosure 1 - IA circular of 1 Apr 2022
CIR
Current
01 Apr 2022
Use of Premium Financing to take out Long Term Insurance Policies
Annex
Current
01 Apr 2022
Enclosure 1 - IA circular of 1 Apr 2022
Cross referenced Document
Version History
Superseded Document
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